The U.S. Treasury Department and the Internal Revenue Service (IRS) are seriously considering plans to delay the filing of federal income taxes beyond April 15, a high Administration official told Newsmax on Monday.
The extension is being considered part of the Trump Administration’s overall campaign against the coronavirus by eliminating situations in which large groups of people encounter one another.
The same source told us a decision on just what action to take in order to avoid the usual crowds of taxpayers rushing to mail their returns April 15 would be announced “very soon…..possibly within days.”
Right now, there are reportedly two plans for action before Secretary of the Treasury Steven Mnuchin and IRS Commissioner Charles P. Rettig: one would maintain April 15 as the official filing deadline for tax returns while eliminating all penalties for filing late; the other would simply extend the filing deadline to August 15 or October 15 (traditionally the dates for taxpayers who request and are granted extensions to file returns and federal taxes that are owed).
What is holding up an announcement of some form of extension, our source said, is the question of whether there would be a shortage of revenue to run the government if taxpayers were permitted to send in owed money later in the year.
John Gizzi is chief political columnist and White House correspondent for Newsmax. For more of his reports, Go Here Now.
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